Global Markets: Formal impeachment inquiry rocks stocks

By MarketsFarm

WINNIPEG, Sept. 25 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.

– United States House Speaker Nancy Pelosi announced a formal impeachment inquiry against President Donald Trump on Tuesday, accusing him of violating the Constitution by approaching a foreign leader seeking damaging information about a political opponent. Stock values took a hit on Tuesday as the impeachment process injected a fresh bout of concern into global markets. The impeachment process, historically, takes several months.

– The United Kingdom’s Parliament is expected to call a general election “shortly” following the ruling that Prime Minister Boris Johnson’s suspension of Parliament ahead of Brexit was unlawful. U.K. Parliament began again this morning, and members are weighing options regarding a looming no-deal exit from the European Union.

– Britain’s Civil Aviation Authority has scheduled over 70 flights to repatriate U.K. citizens abroad following the collapse of travel firm Thomas Cook. Approximately 600,000 people were abroad when the company folded on Monday due to lack of financial resources.

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